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SowetanLive reports that more than 70 employees were retrenched in January at Ndalo Media when owner Khanyi Dhlomo decided to shut down the publisher that housed magazines such as Destiny, Destiny Man and Elle.
About 25 staff were rehired by Ndalo TME, which was established with a hope of reviving and relaunching some of the magazines. But Dhlomo then decided to liquidate both Ndalo Media and Ndalo TME. Some of the workers have since approached Old Mutual to withdraw their pensions, but were shocked to learn they were in arrears and could not access their funds. They were informed that Ndalo Media had failed to pay over four months of pension contributions which were apparently deducted from salaries. Dhlomo had until close of business on Thursday to settle the outstanding pension premiums or the fund would go into involuntary liquidation, which could see the pensions "frozen" for more than a year. Old Mutual indicated in a letter that it was willing to release the pensions should Ndalo Media cover the December premiums, which was when Dhlomo announced they would be closing down. The premiums amount to just over R200,000. "Ndalo Media is currently liaising with Old Mutual in regards to the employees' pension fund and will communicate further by Thursday, the 18th of April 2019," read a letter from the company sent last week. Meantime, the employees have taken the company to the CCMA in their fight for severance packages.
- Read the full original of Kgothatso Madisa’s report on this story at SowetanLive
Get other news reports at the SA Labour News home page